PS Phone: Zeus is “right name,” it’s “based on PSP1”

Engadget’s “Zeus” codename for the PlayStation phone is correct, a watertight source has confirmed to VG247 tonight.

What hasn’t been yet reported, however, is that phone is based on PSP tech, something our man considers to be a mistake given the imminence of PSP2.

Engadget hit back tonight against claims that its scoop on images of the device were fake.

According to the site, the PlayStation phone shown in its photos is “most definitely real”

“This is a device which has been confirmed through multiple, trusted sources,’ said Engadget.

“And we’re not just talking good tipsters — some of our information comes from people much more closely connected to the project. Even since last night we’ve received more info about the phone — learning that its codename is ‘Zeus’, and it was last seen running Android 2.X (not 3.0, which we suspect will be the shipping version).”

VG247 has also been told today that the phone is Android-based.

The phone’s specs are supposedly thus: a 1GHz Qualcomm MSM8655, 512MB of RAM, 1GB of ROM, and a screen that looks to be between 3.7 to 4.1 inches.

PSP, by comparison, has a 333MHz processor and 32MB of RAM.

SCEE claimed the images were fake this morning before retracting its statement.

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The long-awaited “PlayStation Phone”, Sony Ericsson’s Xperia Play, has already launched in parts of Europe and Canada, but hasn’t yet made it to the United States. Don’t worry though, you’ve got just over a week left to wait.